In the trading session on February 8, the gold market fluctuated according to conflicting information about the US economy.
Gold rose strongly again after the credit rating agency Fitch lowered the credit rating of the US by one level, from AAA to AA+. The dollar fell, thereby bringing the price of gold up.
However, precious metals immediately turned lower as the USD recovered after the White House objected to Fitch's downgrade of the US credit rating. The government disagrees with Fitch Ratings' downgrade of the US credit rating and affirms that the US economy is recovering strongly.
Gold also fell after the US released positive data on the US labor market, especially the private sector.